In a filing with Bursa Malaysia today, OCR said it intends to place out the placement shares to independent third party investors to be identified later. "The implementation of the placement arrangement in multipletranches would provide flexibility to the company to procure interested investors to subscribe for the placement shares within the approval period as approved by Bursa Securities," it said. "If issued in multiple tranches, the issue price for each tranche of the placement shares may be determined separately," OCR added. OCR said based on an indicative issue price of 60 sen per placement share, gross proceeds of up to RM58.59 million are expected to be raised. OCR shares were up 0.5 sen or 0.82% to close at 61.5 sen today, for a market capitalisation of RM147.27 million.

Source: The Edge Markets March 27, 2017 11:03 UTC